Home Business NIC Bank, Toyota Kenya partner to finance car buyers

NIC Bank, Toyota Kenya partner to finance car buyers

by Sharon Chepngetich

By Sharon Chepng’etich

NIC Bank, on Monday, launched a financing scheme that will allow Toyota Kenya customers to access finances to purchase new Toyota vehicles.

The customers will receive up to 95 per cent finance from NIC bank through the asset financing package, enabling them to enjoy a 24 hours turnaround time on their applications online through the NIC bank’s website.

According to Alan Dodd, NIC Bank Executive Director, the two companies have enjoyed an excellent business relationship over the years and the deal seeks to reaffirm their commitment to offer a strong value proposition to their customers, who are keen on acquiring new vehicles but fall short of finances to bring their dream into reality.

“As partners, we have walked this journey together and it has informed our effort to always look for ways to add value to our customers by providing avenues for them to easily acquire brand new cars from Toyota through flexible financing solutions,” Dodd said.

“This partnership therefore is in line with our strategic intent aimed at growing our NIC footprint in Asset finance, and consequently growing our customer base.”

Toyota Kenya managing Director, Arvinder Reel, on his part, expressed optimism that the two entities will continue partnering in ways that will ensure consumers acquire brand new motor vehicles.

“The Hilux has got its reputation by offering unrivalled toughness and it is in this spirit that we continue ensuring we offer consumers easier options to purchase top quality, durable and reliable vehicles.” The MD said.

Last month NIC Bank and Toyota Kenya signed a partnership agreement to finance customers seeking to acquire Suzuki and Toyota Hino trucks. The recent partnerships have cemented NIC bank’s position as one of the leading banks in asset finance in Kenya.



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